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To: 16yearcycle who wrote (88181)	12/21/1999 12:29:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

<<Take wisconsin and give the points.>> You take Nokia and I'll take Ericsson and we'll both buy Monte Carlo together. From BW <<CELL MANIA. You can see it already. European technology shares have soared 146% this year. Britain's Freeserve went public at $2.40 in July, and shares are now up 200%. Increasingly frenetic merger and acquisition activity, especially in the telecom sector, has also pushed valuations sky-high. But it's not too late to invest. Most experts believe the market could still rise another 10% to 15% next year. The big winners are likely to be technology, telecom, media, and banking stocks, say investment pros. Above all, they look to a group of globally competitive companies that have grabbed the lead in wireless communications. Finnish mobile-phone maker Nokia remains a darling of stockpickers, despite recent gains. Its shares have soared by 170% this year--and have doubled in just the past eight weeks. Nokia's price-earnings ratio on expected 2000 earnings is a lofty 76 (table, page 116). But analysts say the $20 billion market leader is well positioned to capitalize on the next generation of wireless technology, which will bring data transmission to phones and other small mobile devices. ``The next revolution is the Internet going wireless,' says Michael C. Kraland, president of Trinity Capital Partners in Paris. ``And Nokia stands to make more on that than anyone else.' Goldman, Sachs & Co. forecasts a 33% revenue rise in 2000 and a net profit gain of 23%. Swedish telecom-equipment maker Ericsson is another firm favorite. Admittedly, delays in launches of its cell-phone products were a problem this year, but the company has new top management. Ericsson, which has a prospective price-earnings ratio of 53, has just signed a deal with Microsoft Corp. to develop Net-based applications for a new generation of cell phones. Ericsson generates 80% of its revenues from cellular networks and is a global market leader in wireless infrastructure. A third-generation of wireless technology is near release, which means mobile operators will have to invest heavily in new equipment. ``The potential growth rates [for companies such as Nokia and Ericsson] are so great that the valuation is justified,' says Mike Hughes, director at Baring Asset Management in London.>>